Presented below is information for Crane Company for the month of January 2017. Cost of goods sold $214,200 Rent expense $33,600 Freight-out 9,800 Sales discounts 8,200 Insurance expense 12,500 Sales returns and allowances 19,000 Salaries and wages expense 62,500 Sales revenue 397,000 Income tax expense 4,800 Other comprehensive income (net of $400 tax) 2,000.

Prepare an income statement using the multi-step format